Question

Moravanti Italian Imports has four employees and pays biweekly. Assuming that Box 2 is not checked for L. Torabi and R. Beninati and is checked for G. Fisher and J. Tillman, what does Box 2 likely represent?

a) Social Security Tax
b) Federal Income Tax
c) Medicare Tax
d) State Income Tax

Answer 1

Box 2 likely represents Federal Income Tax.

Step-by-step explanation:

Box 2 on the employee's W-2 likely represents Federal Income Tax.

Federal Income Tax is a tax levied by the federal government on an individual's income. It is a progressive tax, meaning the tax rate increases as income increases. The amount of federal income tax withheld from an employee's paycheck is determined by factors such as their income, filing status, and number of allowances claimed on their W-4 form.

Based on the given information that Box 2 is checked for G. Fisher and J. Tillman, it suggests that federal income tax is being withheld from their paychecks.